How Robust is Your Trust?

PKF Trust Review

Trust Deeds are living documents and it's important to make sure they're regularly reviewed and updated. Changes in your family and business circumstances, as well as the new Trusts Act, will have an impact on existing Trust structures.

It's likely that you set up your Trust to meet the following objectives:

• To protect your assets from creditors
• To preserve value for future generations
• To protect your assets from relationship property or family claims To protect your assets from the government.
• To maximise any benefits you may be entitled to
• To facilitate the transfer of assets to beneficiaries upon your death

Our Trust Review service ensures your existing Trust reflects your current intentions using the simplest structure possible and that it meets statutory requirements.

Who should use this service?

We recommend all our clients with a Family Trust have their Trust reviewed. It's that simple.

What is involved?

Initially, we'll require a copy of your Trust Deed and associated documents (including Wills) to review. We'll then meet with you to discuss what you want your Trust to deliver and make recommendations accordingly. Based on the outcome of the meeting, we'll forward instructions to your lawyer for proposed changes, or put forward a more detailed proposal for services if required.

When should I begin using this service?

As soon as possible. All Trustees have a responsibility to safeguard and administer Trust assets properly. Our experience is that many 'mum and dad' Trustees simply don't receive the guidance and support to have certainty that they are doing just that.

Call us now on 06 350 7900 to discuss Trust Review service.

Benefits of a Trust Review

• Independent assessment of your Trust setup, including recommendations as to whether it's still needed
• Increased understanding of your Trust.
• Peace of mind that your Trust is compliant with the Trusts Act 2019 and will deliver your desired outcomes
• Clarity as to whether you should accelerate your gifting programme.
• Keeps the structure of your Trust as simple as possible.
• Identifies any tax saving opportunities and reduces any potential exposure to Capital Gains Tax
• Gives certainty that all assets are protected in accordance with statutory requirements
• Highlights any potential areas of risk or concern.
• Addresses any financial implications of your arrangements.
• Ensures your Trust meets your succession planning and asset protection objectives.
• Ensures optimal tax structuring and asset protection from the outset if your Trust enters into a major transaction
• Avoids the Trust being deemed a sham.
• We will work with you and your lawyer to update your Trust if required.